ORLANDO—Central Florida just saw a $47 million multifamily deal. Malabar Lakes, Grand Oaks at the Lake, and Park Village—three multifamily communities located in Palm Bay and Melbourne, FL, just traded hands.

Berkadia Group managing director Cole Whitaker and senior directors Hal Warren of the Orlando office, along with Jason Stanton of the Tampa office facilitated the sale. The multifamily communities $85,454 per unit.

“Strong regional job growth, prime locations and significant value-add potential are among the many factors that attracted the buyer to these communities,” says Whitaker. Deancurt Melbourne of Agawam, MA acquired the multifamily assets from HC II Limited Partnership of Denver.

Built in 1988, Malabar Lakes is located at 1018 Malabar Lakes Drive Northeast in Palm Bay. The multifamily community is 98% occupied. Located at 325 Largo Circle in Melbourne, Grand Oaks at the Lake was built in 2000, and is also 98% occupied. Park Village, located at 3099 Park Village Way in Melbourne, was built in 1986 and is currently 97% percent occupied.

All three communities are located near Interstate 95 and fewer than seven miles from Melbourne International Airport and Melbourne Square Mall. Harris Corporation, Holmes Regional Medical Center, Northrop Grumman Aerospace, Port Canaveral, and Wuesthoff Health Systems are among the top employers in the immediate area.